Newry shipping firm Motis extending its reach across Europe
NEWRY shipping firm Motis Ireland grew its turnover by nearly 10 per cent last year as it increases its reach across mainland Europe.
The company, founded in 2002 by David McComb and Patrick Hutley, enjoyed sales of £51.8 million in the year to last June, representing an increase of 9.7 per cent on the previous year's total of £47.7m.
Bottom line profits were generally flat (down from £698,689 to £662,675) after the company took a hit on currency variances.
Motis, which started life as the preferred supplier for P&O shipping services from the UK to Europe, now has a network covering more than 500 freight ferry routes throughout Europe and many other services relating to the European transport industry.
Operating from a newly refurbished head-office in Newry, it also has a sales office in Stoke-on-Trent and local offices in Prague, Poznan, Vilnius and Bucharest, as well as sales representation in Germany, France and the Benelux.
Motis has also made significant investments within the Port of Dover providing truck parking, toll facilities and logistical services 24 hours a day.
Serving more than 2,000 customers across Europe, Motis covers the Irish Sea, English Channel, North Sea, Mediterranean Sea, Baltic Sea, Adriatic Sea as well as transport through the Alps, Mont Blanc and Frejus Tunnel.
In a strategic report filed with annual accounts at Companies House in Belfast, the directors (who were paid more than £760,000 including £199,999 for the highest paid) said the results were satisfactory.
"The group continues to operate in a very competitive marketplace, but it is anticipated that the current levels of performance will be maintained or improved upon in 2019," they said.
The group said it currently meets its day-to-day working capital requirements through a short-term debt facility of £4.5 million for invoice discounting with Close Brothers.
"The directors have reviewed future cash forecasts for group activities and believe Motis has adequate resources to continue in operational existence for the foreseeable future," the directors added.
The company started with five employees but according to its accounts the overall payroll has risen to 47, with an annual wages bill of £2.3 million.